Defying the doomsayers
For the financial year ending 31 March 2005, SABMiller’s local division, Beer South Africa, reported a 13 percent increase in turnover and a 20 percent hike in earnings before interest, tax and amortisation (EBITA). A 4 percent increase in overall volumes and a strong 50 percent hike in premium brand volumes helped to generate an impressive increase in EBITA margins to 28.1 percent from 26.6 percent. Graham Mackay, SABMiller’s long-serving CEO, was quoted as saying that the strong local results had benefited from the country’s robust economic performance. According to Mackay, economic and monetary policy had resulted in key economic indicators such as inflation, consumer confidence and growth in gross domestic product (GDP) all moving in the right direction. ...
Select offer and read on
6 print issues